Process Transaction from Open to Closed
Brokerage Engine
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27 steps
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3 minutes
Locate Commission detail page for Transaction
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Under the "Transactions" tab, click the "Pending" option.
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Narrow the results by utilizing the "Property Address" search field.
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Click the "Action" button of the address.
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Click the "Commission Detail" button.
Edit Critical Details
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Click the "Edit" button.
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On the "Edit Transaction" table, the "Close Date", "Contract Date", and "Sales Price" can be adjusted.
The effective date is used to adjust when you want this transaction to "Count" towards agent accumulation, if different from the the close date. Leave blank to default to close date
The External Transaction Ref # field is optional and can be used to enter your own internal tracking number, if applicable. It is commonly used to record Escrow Numbers.
Commission Calculation Section
This section handles all aspects of commission calculations, including splits, adjustments, and deductions.
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Navigate to the "Commission Breakdown Details" table.
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Click the "Edit Side" button.
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The commission rate %, GCI amount, and agent list can be edited, overridden, added to, or removed from using the "Edit Side" button.
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Verify Gross Commission (GCI) on the table.
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Verify Agents' Net Commission on the table.
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External Referrals, Bonuses, and Concessions can be added through these buttons.
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View/Edit/Add Commission Fees by clicking this icon.
Distributions Section
This section is where any entity being paid from the transaction is listed.\ It is determined here whether the payment is processed by the Brokerage or Title company, and whether settlement instructions generate a paper check or an EFT/ACH payment.
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Review the Distribution section.
Commission Disbursement Authorizations (CDAs) and Agent breakdowns are generated within this section. They can be emailed directly from this table.
Review Accounting Details
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On the "Accounting Details" table, click the "View Entries" button.
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The Main Journal Entry to be Uploaded to the Accounting module can be reviewed.
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As well as any Bills for the different entities.
Change Status of Transaction
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Click "COMMISSION_VERIFIED"\ -Used to indicate the transaction has undergone initial review. While in this status, all necessary edits can still be made.
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Click "OK"
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Click "CDA_SENT"\ -Used to "lock in" transaction details and calculations. The status can still be reverted to "Commission_Verified".\ -Commonly used once a CDA has been sent to Closing Company or vice versa
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Click "OK"
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Click "CLOSING_PAYMENT_RECEIVED" - Used to indicate that the money has been received by the Brokerage.\ -Used in case the transaction is still waiting for outstanding items even though the money has been received.
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Click "OK"
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Click "COMPLETE" - This officially closes the transaction and syncs the closed status through out the system.
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Click "OK"
Send to Accounting
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Click the "Upload to Accounting" button.
Selecting NO = This will put this deposit in Undeposited Funds, which is the bank deposit 'holding tank' waiting to be posted later or grouped with other deposits Selecting YES = Posts the individual deposit automatically in Accounting System by recording a deposit journal entry.
For more information on Managing Deposits in Brokerage Engine, please click on [this link](https://scribehow.com/page/Managing_Deposits_in_Brokerage_Engine_Accounting_and_QuickBooks_Online__3NUzrhe7RZWhMKc92O3avw?referrer=documents).
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"Yes" or "No" should be selected based on how the deposit is intended to be recorded in the Accounting module.
